American Banker

American Banker is a Monday to Friday daily trade newspaper owned and published by SourceMedia, Inc. American Banker is headquartered in New York, N.Y. and was first published in 1836. Readers of American Banker are primarily high ranking banking executives and those with billions of dollars in assets. Seventy percent of American Banker readers hold senior management positions and 66 percent come from financial institutions, with 55.8 percent of those working in the commercial and retail banking sectors. Twenty-one percent of the readership control assets totaling $50 billion and above. The newspaper is published across the United States.In the 1960s, then-editor William E. Zimmerman traveled around the United States reporting on the civil rights movement by asking African-Americans what they needed from the banking industry and in turn interviewing local bankers to find out what services they were providing for African-Americans.In 1988, American Banker reported that the Japanese have the 10 largest banks in the world and that the U.S. banks, for the first time in three decades, were knocked out of the top 25 due to the falling dollar. Citibank, the largest bank in the U.S. at the time, fell from the 17th largest bank in the world to 28th, with $101.1 billion in deposits.American Banker was also the first national publication to report extensively on the fall of Penn Square Bank in Oklahoma City. Marc Hochstein is the Executive Editor, John DelMauro is the Vice President and Group Publisher, Richard Melville is the Group Editorial Director, Banking, and John DeCesare is the Group Publisher.

Articles from Vol. 159, No. 115, June 16

Accountants' Group Offers Checklist on Derivatives for Top Managers
The American Institute of Certified Public Accountants on Wednesday issued a series of questions that top managers and bank directors should be asking about their institution's derivatives activities. The questions - six main ones plus related issues...
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A Hidden Threat Lurks in Derivatives Legislation
Buried in the pages of legislation recently proposed to reform regulation of derivatives activity in the U.S. lies a major threat to the safety and prosperity of the financial services industry. The new legislation would give the Federal Deposit...
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A HUD Official's Take on Fannie and Freddie
Nicolas P. Retsinas, federal housing commissioner and HUD assistant secretary for housing, has emerged as the point man in the federal government's politically sensitive efforts to push Fannie Mae and Freddie Mac to increase their business to underserved...
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Atlantic Residential Mortgage Using Laptop Software from MLN
Atlantic Residential Mortgage Corp. has started using MLN Automated Systems Inc.'s loan processing software for laptop computers to make originations in the field. The Baltimore lender will be one of the biggest companies using the Windows-based...
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B of a's Watchdog Welcomes Tougher Rules
WASHINGTON -- A higher standard of compliance is emerging. Bankers are no longer simply expected to avoid problems, said examiner-turned-compliance officer Allan Kraemer. Today, the government requires bankers to prove that they are doing things...
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Chase's Story: Are Investors Listening?
William F. Maletz, Chase Manhattan Corp.'s director of investor relations, has a story to tell, and it sounds a bit biblical. While there are no floods or lepers in this tale, there is a lengthy period of prosperity, a fall from grace, and a resurrection....
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Consumer Loan Portfolios at Banks Rose 10.2% in '93
After two years of marginal growth, consumer loan outstandings jumped 10.2% last year at the nation's banks, and 13.4% at the 300 largest, according to an American Banker survey. Consumer loans held by the nation's commercial banks totaled $935.7...
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Continental Upgrading Cash Management Plan
In a move to improve and round out its cash management services offerings, Chicago's Continental Bank is in the first stages of installing a new account reconciliation system. The system is called the Account Reconciliation Plan. It is being developed...
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Countrywide Credit Resumes Hunt for an Advertising Agency
After a short pause, Countrywide Credit Industries is back in the hunt for an advertising agency to create its new promotional campaigns. At the end of May, Countrywide suspended its search, telling four small Los Angeles agencies it had approached...
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Cupertino National Shifting from Home to Business Loans
Cupertino National Bank isn't taking the rate spike lying down. The recent rate increase caught the $195 million-asset bank with a strategy that relied on low interest rates - mortgage banking. So, the Cupertino, Calif.-based bank is doing the banking...
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D.C. Guru Says Superregulator Bill May Be Reborn as a 3-Way Merger
While legislation to consolidate the four banking agencies is "resting with four feet in the air," industry consultant Karen Shaw said a reincarnation could meld the Office of the Comptroller of the Currency, the Office of Thrift Supervisory aspects...
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Deluxe, Armed with New Products, Now Shifting into Marketing Mode
Deluxe Data Corp. lives by the adage that timing is everything. In recent years, the Wisconsin-based electronic banking processor and software provider has demonstrated an uncanny knack for identifying and seizing the right moments to make business...
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Finally, Client-Server Systems Can Deliver on Those Promises
Client-server technology promises banks tremendous price-performance advantages over traditional mainframebased information systems. That's nothing new. Client-server technology has been promising tremendous advantages for years. What's new is...
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GOA Asked to Study Impact of Insurance Fund Merger
WASHINGTON -- Two warning shots were fired this week in the battle over whether to merge the bank and thrift industry insurance funds. On Capitol Hill, Sen. Alfonse M. D'Amato, R-N.Y., and Rep. John J. LaFalce, D-N.Y., asked the General Accounting...
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How to Get the Most Bang from Marketing Bucks
In today's struggle for financial survival, the budgets that banks and thrifts set aside for marketing are coming under increasing scrutiny. In many institutions, marketing is the fourth-largest budget item following net interest expense, salaries...
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Industry Made Near-Record $11 Billion in First Quarter
WASHINGTON -- Earning $11.1 billion in the first quarter, the banking industry turned in its second-best performance ever - just $400 million shy of the all-time record set in the third quarter of 1993. Announcing the results on Wednesday, the Federal...
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Invest's Chief Sees Shakeout Looming
As the president of Invest Financial Corp., Merlin R. Gackle oversees a company that is one of the top marketers of mutual funds and annuities through banks. Invest, a unit of Kemper Financial Services, was founded more than a decade ago, making...
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J.P. Morgan in Talks with Ex-Citicorp Buyout Czar
J.P. Morgan & Co. has held job talks with Richard Ivers, the highly regarded former head of leveraged buyout financing at Citicorp. While it remains to be seen whether Mr. Ivers will be joining Morgan, the talks indicate that the banking company...
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Lenders Seem Doomed to Repeat History
Yogi Berra was right: "It's deja vu all over again." Unfortunately, 1994 is starting to look eerily like those bad old days of 1987-88. The market is coming down off a record refinancing boom; capacity exceeds demand; the bond market is shaky, and...
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More N.C. Banks Offering Securities, Mutual Funds
North Carolina's state-chartered banks have taken to investment products despite economic uncertainty and industry consolidation, according to a recent survey. The survey by the office of the state commissioner of banks, showed that 40 state-chartered...
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New England Banks Falling into Disfavor as Recovery Matures
Analysts have begun pulling back on New England bank and thrift stocks on concerns that their long recovery, capped by a recent rally, is reaching maturity. Christoph Kotowski of Oppenheimer & Co. on Wednesday sliced his investment rating for...
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N.Y. Expected to Push Its CRA Revamping
The New York State Banking Department will continue to press for an overhaul of the state's Community Reinvestment Act, according to Derrick Cephas, who resigned as superintendent of banking two weeks ago. In an interview in his new office at the...
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Regulators Promise Crackdown on Mistakes in HMDA Reports
WASHINGTON -- Regulators vowed Wednesday to crack down on banks that make mistakes in their Home Mortgage Disclosure Act reports. "We are finding lots of erros in exams when we go in," said Griffith L. Garwood, director of consumer and community...
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Speculative Investors Look to N.Y. State, New England
A flurry of mergers and stakeouts of upper New England community banks by the region's largest institutions has sparked a speculative frenzy in the stock of independent institutions in New York. "The regionals and investors, I think, are looking...
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Wednesday's Market
Bank stocks staged an across-the-broad retreat on Wednesday amid a broad selloff in both the stock and bond markets. Only one of the top 25 bank stocks - Chase Manhattan Corp., up 62.5 cents to $39.50 - was able to tally a gain for the day. It was...
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